VAL-D'OR, QC, Dec. 22, 2014 /CNW/ - Orbit Garant Drilling
Inc. (TSX: OGD) ("Orbit Garant" or the "Company") today announced
that it has reached an agreement with National Bank of Canada on an amended and restated
secured revolving credit facility (the "Credit Facility"). Under
the terms of the Credit Facility, the maximum amount available to
Orbit Garant is $25 million. The term
of the Credit Facility is three years, maturing in December 2017. The Credit Facility provides Orbit
Garant with improved financial flexibility and an enhanced ability
to pursue its growth initiatives.
About Orbit Garant
Headquartered in Val-d'Or, Quebec, Orbit Garant is one of the
largest Canadian-based mineral drilling companies, providing both
underground and surface drilling services in Canada and internationally through its 214
drill rigs and approximately 600 employees. Orbit Garant provides
services to major, intermediate and junior mining companies,
through each stage of mining exploration, development and
production. The Company also provides geotechnical drilling
services to mining or mineral exploration companies, engineering
and environmental consultant firms, and government agencies. For
more information please visit the Company's website at
www.orbitgarant.com
Forward-looking information
This news release may
contain forward-looking statements (within the meaning of
applicable securities laws) relating to business of Orbit Garant
Drilling Inc. (the "Company") and the environment in which it
operates. Forward-looking statements are identified by words such
as "believe", "anticipate", "expect", "intend", "plan", "will",
"may" and other similar expressions. These statements are based on
the Company's expectations, estimates, forecasts and projections.
They are not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. These risks
and uncertainties are discussed in the Company's regulatory filings
available at www.sedar.com. There can be no assurance
that forward-looking statements will prove to be accurate as actual
outcomes and results may differ materially from those expressed in
these forward-looking statements. Readers, therefore, should not
place undue reliance on any such forward-looking statements.
Further, a forward-looking statement speaks only as of the date on
which such statement is made. The Company undertakes no obligation
to publicly update any such statement or to reflect new information
or the occurrence of future events or circumstances.
SOURCE Orbit Garant Drilling Inc.